MahaRERA To Soon Announce Real Estate Project Grading Details
The Maharashtra Real Estate Regulatory Authority (MahaRERA) is set to release details of real estate project grading within a month. Using AI tools, the grading will be based on technical, financial, legal details, and project overview.
‘Norms on what basis we will grade real estate projects are ready. We had put out a discussion paper for grading and we have already received suggestions and objections for the same, which have also been incorporated,” said Ajoy Mehta, chairman of MahaRERA. The new AI-based system for grading will be operational within 15 to 20 days, with the first grading period starting October 1, 2023, to March 31, 2024.
Stay tuned for the RERA update to know more.
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